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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 76,348 $ 101,926
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit loss expenses 27,825 10,085
Specific reserve, other real estate owned 537 88
Depreciation of bank premises and equipment 14,299 14,013
Gain on sale of bank premises and equipment (155) (194)
Loss (gain) on sale of other real estate owned 13 (639)
Accretion of investment securities discounts (241) (186)
Amortization of investment securities premiums 14,877 8,240
Investment securities transactions, net 5 10
Unrealized gain on equity securities with readily determinable fair values (99) (190)
Stock based compensation expense 395 504
Losses (earnings) from affiliates and other investments 203 (290)
Deferred income taxes (14,861) 764
Increase in accrued interest receivable (11,064) (1,153)
(Decrease) increase in other assets 244 (25,589)
Increase in other liabilities 28,186 18,028
Net cash provided by operating activities 136,512 125,417
Investing activities:    
Proceeds from maturities of securities 1,075  
Proceeds from sales and calls of available for sale securities 18,920 60,695
Purchases of available for sale securities (458,184) (380,095)
Principal collected on mortgage backed securities 753,483 317,822
Net increase in loans (598,176) (316,959)
Purchases of other investments (25,329) (35,766)
Distributions from other investments 26,688 56,181
Purchases of bank premises and equipment (4,593) (14,409)
Proceeds from sales of bank premises and equipment 786 1,793
Proceeds from sales of other real estate owned 3,625 1,470
Net cash used in investing activities (281,705) (309,268)
Financing activities:    
Net increase in non-interest bearing demand deposits 870,839 100,067
Net increase in savings and interest bearing demand deposits 290,105 36,089
Net increase (decrease) in time deposits 48,745 (4,043)
Net increase in securities sold under repurchase agreements 150,559 11,199
Net decrease (increase) in other borrowed funds (190,092) 102,711
Redemption of long-term debt   (25,774)
Purchase of treasury stock (48,737) (128)
Proceeds from stock transactions 288 874
Payments of cash dividends - common (35,128) (32,822)
Net cash provided by financing activities 1,086,579 188,173
(Decrease) increase in cash and cash equivalents 941,386 4,322
Cash and cash equivalents at beginning of period 256,820 316,797
Cash and cash equivalents at end of period 1,198,206 321,119
Supplemental cash flow information:    
Interest paid 23,555 28,602
Income taxes paid 370 27,864
Non-cash investing and financing activities:    
Net transfers from loans to other real estate owned 2,234 22,281
Establishment of lease liability and right-of-use asset   $ 6,171
Net transfers from bank premises and equipment to other assets $ 4,260